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HDN FIGRZ by Seven22
HDN FIGRZ by Seven22
Ethereum
7,022 Icons/ NFT, representing the movers, the shakers, the grinders, the hustlers. 7,022 Icons representing you. You are the collection. Etching History into the Blockchain. The blockchain will provide an indelible record of the beginning of The Movement that will reshape wealth in the minority communities. The Seven22 Project takes us on a compelling journey through digital artwork to explore and showcase the cultural contributions made by Africans and African-American globally. Additionally, the project brings awareness to the struggles and obstacles as well as the progress and victories of early and present-day pioneers. By utilizing blockchain technology we will ensure that our history will be forever remembered. Finally, a future and a solution for wealth creation for the People.
My naughty eggs
My naughty eggs
Polygon
An unmissable collection made up of beings whose intentions in this world are based on business. Its main purpose lies in building a conglomerate of companies dedicated to different industries. These companies will be consolidated both in the metaverse and (Decentraland and Sandbox). As well as physical technology companies. For this reason the eggs potentially seek investors. The project incorporates pieces that have high levels of rarity, mentioning that each work provides a different added value, granting substantial benefits to its owners. The project incorporates pieces that have high levels of rarity, mentioning that each work provides a different added value, granting substantial benefits to its owners. The project incorporates pieces that have high levels of rarity, mentioning that each work provides a different added value, granting substantial benefits to its owners.
Ape In Poker
Ape In Poker
Solana
Ape In Poker brings poker into Web3, giving you unparalleled safety and security you won’t find anywhere else. Ape In Poker utilizes blockchain technology to enable players to keep their money in their own wallet rather than depositing it inside the site, enabling players to walk away with their winnings immediately, rather than face cash-out concerns or frozen funds! Our platform also enables **communities and clubs** to hold their own cash games and tournaments, as well as allowing single players the ability to find these games! Invest in the $HOUSE, because the $HOUSE always wins ♣️ Holders of APE IN POKER will receive a weekly yield of the $HOUSE token ♣️ Earn $HOUSE coin based on how many Genesis NFTs you hold, and your card level. ♣️ Gain access to the APE IN POKER TOUR, and in-person Championship tournament in Las Vegas held Dec 28-31 ♦️ Holders will enjoy a reduced entry fee to tournaments 🗺️ We are currently licensed in Costa Rica which allows us to be a fully legal operation. 3.5 SOL
Nightcatz
Nightcatz
Ethereum
3,333 Nightcatz. Feed your NightCat and get rewards. Staking for holders.
THE WALLSTREET BITCOIN Crypto-NFT - INO
Introducing The Wall Street Bitcoin Crypto-NFT, where you can exchange your Crypto-NFTs only on the OnlyTrust Platform for Bitcoins. The Initial NFT Offering of this World Class Asset (INO) is live now, only at the OnlyTrust Marketplace, where you can buy The Wall Street Bitcoin Crypto-NFTs at just $49. The value of The Wall Street Bitcoin Crypto-NFTs depends on the price of Bitcoin, which never goes below a certain level. The Crypto-NFTs are safeguarded by the OnlyTrust Exchange Pool, and their value increases on every Crypto-NFT sale. Get your unique Crypto-NFT before the stakes are high and before the sale ends! Follow us on our other channels to stay connected to our updates! 🌅 Twitter: https://twitter.com/wall_st_bitcoin 🌠 Facebook: https://www.facebook.com/thewallstreetbitcoin 🌉 Instagram: https://www.instagram.com/the_wall_street_bitcoin 🎇 Discord: https://discord.gg/Yfnu3CWn3Y
PRECIOUS PAS
PRECIOUS PAS
Ethereum
WL sale : 0.045 eth Public sale : 0.066 eth Presale : August 19, 12h00 UTC Public : August 20, 12h00 UTC Precious Pass is a collection of 3499 NFT, created on the Ethereum blockchain. 49 rare Diamond Pass = 49 Diamond pendants (check our Twitter and discord for more informations). DAO & ALPHA : 60 % sales is allocated to the Community Wallet - Access to a community vote - Wallet directly incorporated to discord - Different self-service tools available (Icy tools, nft calendar(eth/sol), moby alerts, degenmint.xyz, nftflip.ai, and more) and volume trackers (check category 'ALPHA') - Access to different daily analyzes / Alpha Call (check category 'ALPHA') - Access to a future NFT project calendar - Access to different raffles : WL spot, free NFT, IRL Jewelry drop... Join Precious Pass : Twitter : https://twitter.com/PreciousPassNFT Discord : https://discord.gg/JAm7f73BYC
AstroMust NFT
AstroMust NFT
Ethereum
EXCLUSIVE 24HR ACCESS ‘PLAY TO MINT’ – REGISTER FOR WL SPOT. 📢ASTRO MUST – FIRST VIDEOGAME THAT COMBINES PLAY AND MINT 👀 ON THE APP STORE📢 Astro Must is a unique, open world, space exploration game on the blockchain with an extraordinary vision – To accelerate Space for Everyone in the Metaverse.🚀👩‍🚀 For our community, we want to provide a mind-blowing, role-play fantasy game with strong emphasis on building great player experiences! ✅ A strong game first mentality ✅ Fully doxed team ✅Roadmap, discord and strong community Astro Must is a project already shattering all the current ‘norms’ in web 3 space and creating something truly exceptional; we are doing this by 1. Being one of the first Play to Mint game on mobile app store- accessible to everyone with a smart phone📲 2. Providing 3D Game-ready NFTs, in gITF format like RTFKT’s Clone X 3. Giving holders full IP rights and you can use these avatars to create your own content 4. Having Insane NFT drops – Free RECRUIT collection / Prestigious ASTRO MUST 👩‍🚀 collection with unique traits and 1 of 1s / unique ROBOT Collection 5. Giving the 1st player on the moon a staggering $1 million, with 20% of our revenue back in as in-game prizes and rewards thereafter 6. Creating superb IRL utility- MAIN game launch scheduled for early Q2 2023, but no way will we leave our community hanging, we will be releasing exciting mini- experiences every 3months – FPS/ Racing/ Arcade 7. Incorporating NFTs making NFTs in game / up next will be NFT training modules, Robots will need to be trained to be more efficient👀🤯 8. Providing economically robust Proof of Play Must tokens, means our players will always be protected from exchange’s fluctuations and unpredictability Our main game will be cross platform – web / mobile and tablet. Why not try out our game demo on the app store. Apple – https://apps.apple.com/ae/app/astromust/id1628974079 Android – https://play.google.com/store/apps/details?id=com.aiforge.mustallowlist Get in on the action, and embark on this amazing experience with us, together WAGMI. Linktree: https://linktr.ee/astromustgame JOIN DISCORD FOR WL Spot : https://discord.com/invite/astromust
THUG CITY P2E
THUG CITY P2E
Ethereum
Welcome to ThugCity!🏥 A Play-To-Earn staking game on the Ethereum blockchain where Cops and Thugs compete to earn $BILLS. A desolate city in no man's land In the dead of the night, a war is at hand ⚔️ Cops are ready and guarding their posts👮‍♂️ Thugs are lurking in the shadows ghosts👻 In the name of $BILLS, which side will you be on? 🔥 A once lonely and monotonous city sees a new darkness advancing upon it. A wave of Thugs are planning to take control over the city and everyone within it... but not if the cops have a say. The Thugs began construction on a bridge, connecting their safehaven to the mainland. At first, the Cops welcomed the Thugs and allowed them to reside and populate the city. In return for this gesture, the Thugs posed as respectful and law-abiding citizens, at least while they plotted their attack. Soon after, the Cops realized the Thugs intentions and began to add reinforcements to the city. The Thugs took this personally and began to accelerate their plans. War has commenced. Which side will rule ThugCity?
Bearded Buddies
Bearded Buddies
Ethereum
We want a long-lasting community with a clear collective goal: to connect entrepreneurs, investors, and the best teams in a professional networking space centered around innovative projects. Our mission is to facilitate all the tools for every entrepreneur that needs to develop their ideas within the community.
Gamechangers.ai NFLT Drop
Gamechangers issues Non-Fungible License Tokens (NFLTs), that allows startups and companies to create powerful communities by incentivizing supporters for the completion of microtasks. By introducing a new NFT ecosystem and marketplace, Gamechangers enables companies to tap into the power of the crowd through microtasks by granting licenses of various kinds in exchange for rewards such as revenue sharing and commissions. The Gamechangers "Master-NFLT" provides the following advantages: Your earnings For all NFLTs you hold, you will earn revenue shares and commissions - in exchange for some microtasks. Fixed Price If you reserved your spot for e.g. $5, you will be offered all future NFLTs for $5 as well. Limited Seats There are and always will be only 5,000 Master-NFLTs. Tradability All NFLTs are tradable on secondary marketplaces.
OXHILE NFT
OXHILE NFT
Solana
OxhileNft is a free mint delightful art with an initial limited edition drop off 555 unique NFTs on the Solana network. The Nft enable user's holding the limited edition to stake and farm our tokens. OxhileNft derives its fundamental concepts from Nfts on solana blockchains nfts like: Greatgoats, DegenApe, Moonbirds. We are creating work less free for user to be able to stake,farm with their nft and earn twice rewards. No one has ever done this on every blockchain and which we think the world is evolving and blockchains should evolve with it. Oxhile target to provide a universal layer to manipulate and synchronize the global state between farming tokens on solana. To achieve this, Oxhile introduce a farming system (Oxhile farm) to process most of the transaction that query or alter the state. Oxhile target to provide a universal layer to manipulate and synchronize the global state between staking nfts on solana. To achieve this, Oxhile introduce a staking system (stake oxhile) to process most of the transaction that query or alter the state.
WeStreamers
WeStreamers
Ethereum
We are WeStream - a team of passionate individuals with a vision to empower creators by building a platform that gives them full control over their creative output. We believe that creators should be able to benefit from the engagement of their fans in a fair & sustainable way, no matter how big or small their audience is, rather than relying on ads & impression algorithms. We also believe that slow pay-out times & poor revenue splits are a thing of the past, & income should not be dictated by intermediary entities who can demonetize your content at any time. That's why we are on a mission to build a free-to-use decentralized livestreaming platform where anyone can host a live stream and fans can engage with their favourite content creators via a custom utility token. Some features that will be available on our app include SuperChats, SuperDMs, SuperCalls, the ability to create a custom shop for digital or physical merchandise and a crypto wallet where you can accept payments and store currencies. We are also launching an NFT collection which will grant every owner exclusive perks on the WeStream app such as: 3 year premium subscription, enhanced streaming & commenting privileges, access to the $STREAM token ICO, invite to the private WeStream community and more! Welcome to Web 3.0: The revolution will not be televised...it will be livestreamed!
Saudi Birds
Saudi Birds
Ethereum
5,555 Saudi Birds are MAX BIDDING. Every Saudi has its own bird. Pre-Sale: SOLDOUT Public Sale: July 30 at 21:00 UTC
Harpytownwtf
Harpytownwtf
Ethereum
No discord, no roadmap, just harpies, 10,000 harpies, they are fly and shit from the sky. Pre-sale: SOLDOUT Public Sale: Jule 17th, 12:00 UTC / 08:00 ET
SWAGGYLIONS CLUB NFT DROP
WHAT IS SWAGGYLIONs NFT? 5,555 Random Programmatically generated NFT Lions living on the Polygon Network. The purpose of SWAGGYLions Club is to create a self-sustaining rewards ecosystem. This ecosystem represents the ability to grow passively in the new creative economy. Our goal is to continue to rapidly build the best quality platforms and apps needed for SWAGGYLions Club to provide the best rewards. The lines between the physical and digital worlds are blurring and the rules are being rewritten. SwaggyLions Club is our most ambitious mission yet, the beginning to a self-sustaining ecosystem for our community of lions. **“A silent wave building a tsunami, who cares about floors when you have rewards.”** Why Join Swaggy Lions Club? Innovation. We believe that blockchain technology & smart contracts have the potential to do much more, and we intend to push the boundaries of innovation. Inclusiveness. We aim to bring as many people as possible on the journey of discovery of the potential of NFTs. Instead of creating an ‘exclusive’ club with a high barrier to entry, we aim to create an inclusive & positive environment for newcomers in the NFT space. Utility. We thrive to bring utility to digital ownership, and to pursue opportunities to connect the digital space with physical. Value. We aim to create a community that collectively makes an impact, along with a community managed company & roadmap of each project within SWAGGYLions NFT. Unique. Community ownership in SWAGGYLions NFT allows for a new type of ecosystem which the world has yet to explore. ROADMAP: v1 SANDBOX: Purchase a plot of land via sandbox.game; to develop Sandbox in-game activities that will allow you to earn and stake $SAND while you complete activities and “PLAY2EARN”. The SANDBOX Platform is also built around the Polygon Network via their staking platform for $SAND. https://www.sandbox.game/en/ Live Mining Rewards: For every 10 SWAGGYLions Club NFT Tokens held, you will receive rewards equivalent to 10% of our miner rewards for that month. “A monthly snapshot will be taken before rewards distribution and applied to screen for display for Holders with 10+ SWAGGYLions Club NFT. Each Rig consists of 12 GPU Super Miners ranging from lows of 1660s, mids of 2060s, to highs of 3090s. Our Community Wallet: will go live with an agreed upon deposit to start it up! With this wallet we will be able to purchase Blue Chip NFTs, develop projects or voted upon content and applications. The Development of $SWAGGYz: in which those who a minimum hold 3 SWAGGYLions Club NFT Tokens will receive an airdrop of $SWAGGYz tokens into their wallets in which the NFTs are held. Active Staking Rewards: You will be able to deposit your NFTs (Leaving your wallet) in order to stake them for a period of time and earn $SWAGGYz tokens daily. You can use these tokens to purchase Whitelist Spots in other projects, NFTs, and Merch or exchange on https://quickswap.exchange ! A 3D Collection: for holders only will be developed and airdropped for free to all holders of 3 SWAGGYLions CLub NFTs or more. Exclusive Streetwear: collaboration with www.houseofkings.co to create the SLC Streetwear Line for holders only that can be purchased with the $SWAGGYz you earned or by holding 10 or more SWAGGYLions Club to receive a swag bag for free. ROADMAP 2.0 to TBA. We rise together. We build together. We grow together. Mining Utility - Staking - Play2Earn - Trading Group - Community Wallet and More

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Top Tier Athletes And Their Involvement In NFT World

Top Tier Athletes And Their Involvement In NFT World

Many parents support the idea of their offspring becoming athletes and sports stars. When asking a child about their career aspirations, becoming a sports star would top the list. Though reaching the pinnacle is difficult, it is one of the best careers in the world. The attraction to sports is the players' financial gain and adulation. Anyone who reaches the top of any sport will become financially free. Furthermore, players from the most popular sports are celebrities on par with actors and famous businesspeople.

The vast sums involved in sports are due to the massive interest and demand from the general public. People love sports and are willing to pay enormous money to watch sporting events. Due to the fascination, businesses not involved with sports pay massive advertising fees to become associated with the sport. There are many sports, from golf, martial arts, cycling, and racket sports to track and field events. It is an endless list.

However, some sports have better earning potential than others. Sports such as soccer, football, basketball, golf, and tennis are some lucrative sporting activities. Anyone who reaches the pinnacle in these activities will easily earn millions of dollars. There are few sports stars whose fortunes run into billions. Earnings are not limited to the salary received from the clubs. Top sports stars can accumulate wealth through endorsements, sponsorship deals, and payments from their clubs. The massive earnings are due to the player's skill set combined with their popularity. A famous, well-loved star will command the highest salaries.

Investment Options For Sport Stars

Like all wealthy people, sports stars invest their income; they use their finance to buy more wealth. It makes zero sense for money to sit idle in bank accounts. Investments take all kinds of forms. From starting their own business, investing in other companies to involvement in financial markets are some of the popular forms of investments. Cryptocurrencies and their associated technologies have become mainstream in the last few years. The portfolio of many wealthy people, including sports stars, usually has some investment in this arena.

Investing In NFTs

Non Fungible Tokens (NFTs) are one way to invest in cryptocurrency technologies. This field has attracted many sports stars. Some famous sports stars who hold NFTs include Stephen Curry, Serena Williams, Shaquille O'Neal, and Neymar Jr. These are just a few of the hundreds of sports stars who have become involved with NFTs.

NFTs, with their cartoon art representation, appear fun and appeal to the younger generation. Given that the sports star demographic is of the lower age bracket, it makes perfect sense for these people to invest in NFTs. Owning NFTs can help market sports stars and their brands. Becoming associated with a popular NFT collection will increase the media coverage received. For example, if an athlete buys a blue-chip NFT such as the Board Ape Yacht Club, the news will be seen on all major outlets and social media channels. This is a win-win situation for both the project and the athlete.

The more an athlete is featured in the popular media, the more it enhances their prominence. It allows them to demand more outstanding salaries and endorsements. The involvement of top-tier athletes will help drive up the price of the NFT, a good situation for the NFT project. Additionally, NFTs are an investment opportunity. Though buying NFTs is highly speculative, there is an excellent chance that blue-chip projects will see a price rise. Top-tier NFT projects such as BAYC and Azuki continue to see a price increase.

NFTs can help well-known athletes connect with their fans. The trend is for athletes to buy NFTs from significant projects to date. There will be a more significant number of athletes who will release their own NFT collections. It offers the athlete a way to bond with fans in new and innovative ways.

Holders gain the opportunity to meet the star or receive merchandise. This helps to solidify the relationship; it will lead the fans to become even more interested in the athlete's brand and helps to foster a community of fans in ways never seen before. There is also a financial benefit for the fans. Owning the NFTs of a sports star, the fan can sell these assets. Previously the relationship has been a one-way street; the athlete benefited from fans without much reciprocity.

If the perceived value of the star is on the rise, the price of the NFT will increase. It offers the opportunity for the holder to sell their NFTs for a profit.  NFTs open up all manner of possibilities in the world of sports. Sporting clubs can sell NFTs, which will offer their fans the opportunity to gain merchandise, special ticket allocation, or vote on club governance. NFTs are relatively novel, but there is no doubt that this is a field that opens up opportunities never seen before in the world of sports.

 

Apr 9, 2022
Kate
The Importance Of The Founder In NFT Projects

The Importance Of The Founder In NFT Projects

People who've followed NFTs for some time are aware of these essential considerations when buying NFTs.  Many new members of the NFT community overlook this critical aspect.

Many newbies buy NFTs without much consideration. The usual pattern is for people to hear about NFTs, find the NFT community on Social Media platforms such as Twitter, and become part of the Discord servers of various projects.

A busy server and quality artwork ensure the newbie becomes involved in the community. It leads to the person minting the NFT on launch.

Following the mint, it's common to see the price of the NFT fall in value. After a few months, the founders neglect the project, and the holders find themselves with an NFT with little value.

Since this neglect has been the standard pattern seen throughout 2021, most NFTs on the secondary market are worth less than the price paid on launch.

There have been numerous cash grabs. The founders make six figures from the NFT project, but the investors have a losing asset.

The success stories in the NFT space have received praise. For example, the Bored Ape Yacht Club (BAYC) is admired throughout the NFT community, and any NFT stories in the mainstream media feature the BAYC regularly.

For every successful project, there are far more failures.


Mistakes Made By More Experienced NFT Buyers.

After spending time in the NFT community, people become aware of the requirements of a good project. They commonly look for the following characteristics:

Doxxed Team. The team mustn't be anonymous. Anonymous groups are more prone to carry out rug pulls (where the founders close the project after launch). Investors have no idea of the identity of the founders. As a result, the groups can quickly abandon the project and scam the investors.

Great Community. There must be a sizable community behind the NFT project. People look at Social Media and Discord profiles to gauge the size of the community. Without a community, there is no one to buy the NFTs.

Good Artwork. Essential to ensure the artwork is high quality and in line with the current trends. For example, there is a great deal of admiration for the artwork by Doodles and Invisible Friends NFT projects.

Utilities. Projects need more than artwork to become a success. The only exception is if the NFTs are from an established artist such as Beeple, Banksy, or another artist with a big following in the traditional art world.

Projects without a well-established artist need to provide utilities in the form of Play To Earn games, events, staking possibilities, and more.

People seeking these factors in projects are better positioned than newbies. But many projects satisfying these conditions still fail to succeed, especially in this current climate where the NFT space is experiencing a bear market.


The Importance Of The Founder

The most critical factor in a project is the founder. Many investors entertain projects because the founder is well known. They could be a celebrity or an industry leader.

Unfortunately, many of these projects flounder in the long term. Shortly after mint, there is a pump in price. But a few months after the launch, the value has become less than the mint price.

The founders are not highly active in the project; they make no effort to immerse themselves in the community.

It leads people to conclude (probably correctly) the founders are not interested in the project. The community loses faith, sells their NFTs, and projects end up in the backwaters of the secondary market.

A successful project is one where the founder engages with the community. They should be active before and after the launch. Making themselves involved in the conversations on Discord and Ask Me Anything (AMA) or Twitter Space shows a genuine interest in the project.

An example of a successful project is VeeFriends by Gary Vee. The founder is always available. He is constantly talking about his projects on Social Media and does not go missing in action.

 

Wrapping Up

The most important consideration for any NFT collection is the founder, motives, and project vision.

Unfortunately, the NFT world has seen many cash grabs. The devs and the founders fail to take much interest following the launch.

The reality is that unless the NFT collection is by a genuine, highly established artist, the project starts after the launch.

The easy part is the stage up to the launch; it's the segment where the founders are raising capital to realize a vision. Making their promises become a reality involves hard work.

To date, in the NFT space, many founders are fond of the idea of raising capital. But dislike the effort to complete the project and make the utilities and the roadmap a reality.

Many experienced investors in the NFT community understand the situation and no longer mint NFTs easily. This is a contrasting situation to 2021, where people readily bought NFTs.

Perhaps this explains the current bear trend in the NFT world; sales volumes are significantly lower than the record-breaking numbers a few months ago.

For the investor, the best approach is to take a great deal of interest in the founder. Presenting evidence of interest by the founder ensures confidence in the community.

The involvement of a famous name does not guarantee long-term success.

 

Mar 31, 2022
Bill
Common NFT Scams: Identified

Common NFT Scams: Identified

Scams exist in many areas of life, defined as fraudulently obtaining money or goods from unsuspecting victims. 

The Internet is hugely beneficial for society and helps improve many people's lives. But it has led to criminals using it to defraud people—from phishing and fake shopping websites to dating scams. 

Cryptocurrencies use the Internet and are not exempt from scams. The anonymous nature of cryptocurrencies has made things easier for fraudsters. 

NFTs are an extension of cryptocurrencies and are an arena with frauds targeting newbies and the uninformed. Since this is a relatively new technology, most people have likely been victims of one form of scam or another.

What are some of the common NFT scams?

Rug Pulls

After a project launch, the founders exit the project with investors' funds. The founders close the assets associated with the project, such as the Discord server and Twitter account, and leave the scene. With the founders no longer involved and little trace of the project, the price of the NFTs decreases until it becomes worthless. The investors possess nothing more than NFT JPG images on the blockchain. 

The NFT space has been rife with these scams throughout 2021. As people become aware, these deceptions are becoming less common.

Anonymous founders carry out rug pulls; people have no idea of the real identity. Given the anonymity and lack of traceability with crypto wallets, it's a straightforward scam to perpetuate.

Cash Grabs 

This is rife in the NFT space. The founders of the project promise various developments for the project. 

After the launch, they fail to implement these promises. Over time, the value of the NFTs decreases, and the investors are left holding the bag. 

Nearly every NFT investor has been a victim of such activities. Such schemes are also known as a slow rug; the founders leave the project slowly. 

These schemes are difficult to classify as a fraud; the founders are in a position to kick their promises into the long grass. And many often come up with all manner of excuses why developments fail to progress. 

Pump And Dump 

This is where an individual or a group of people team up to buy large quantities of the cheapest NFTs in the collection (buying the floor price). 

They drive up the collection price, also known as "sweeping the floor" or "wash trading." After a significant price increase, the NFTs are sold for a profit, and the culprits exit the market. The value of the NFTs decreases, people are left with NFTs worth less than the price paid. 

The project founders are known to engage in such practices to drive up the price of their collection.

Project Impersonation

Fraudsters try to mimic real projects by creating websites and social media profiles with a similar appearance to the actual project. 

They aim to lure unsuspecting victims to a website and mint fake NFTs. The victim connects their wallet to mint an NFT, which turns out to be an empty file. 

Victims are targeted through direct messages or posting links in the comment section of Social Media platforms.

The problem has become rampant: fraudsters routinely hijack the real Discord server of a project, disabling the power of admins and moderators and placing links to direct members to a fake minting website. 

Customer Support Scams

This is a problem commonly seen on Discord and Telegram. Scammers contact through direct messages offering to help people mint NFTs or provide bonus airdrops.

As a customer service representative, the scammer tries to obtain wallet details such as passwords and the seed phrase. Using the information, fraudsters drain the funds from the wallet.

The problem is that NFT projects warn members not to engage in direct message conversations. Official members of staff have ceased contact with members directly through direct messages. 

Experienced people will not fall victim to such scams; newbies are the intended targets. 

Intellectual Property Theft And Fake Collections

There are projects known to take the artwork from talented artists and use it for their collection. Without agreements in place, this is a form of theft.

Projects using artwork from an artist without permission are a theme in the NFT community. 

On discovery, the reputation falls, and the value of the NFTs decline in price; it becomes a loss-making investment.

Some individuals take artwork from upcoming projects, load it to marketplaces such as Open Sea and aim to impersonate the actual project.

Buyers of these NFTs become victims of a scam.

Conclusion

Scams are common because the NFT market is new, with many new people entering the space. It allows fraudsters to exploit inexperience and vulnerabilities.

The best approach for a newbie is spending time in the NFT community, networking with others on platforms such as Discord, and becoming fully aware of the technology before major investment sprees.

Mar 24, 2022
Kate
Yuga Labs & Bored Ape Yacht Club (BAYC) Launch ApeCoin Tokens

Yuga Labs & Bored Ape Yacht Club (BAYC) Launch ApeCoin Tokens

Bored Ape Yacht Club (BAYC) is the most iconic NFT collection; it's set the standard for others to follow. The nearest rival CryptoPunks, based on nothing more than artwork, was taken over by BAYC's creators, Yuga Labs, in March 2022. This acquisition has created the biggest juggernaut in the NFT world; no other project comes close in size.

BAYC 's success depends on its ability to evolve, pivot, and provide value to its holders. While many projects offer artwork and no more, BAYC has significantly contributed to the NFT world. They airdropped NFTs from other projects (such as Bored Ape Mutant Club and Bored Ape Kennel Club) to BAYC NFT owners, provided in-person events, and developed online games for its members. Yuga Labs allows the holders to use the NFT they own to create and sell merchandise.

 What is ApeCoin?

As part of this ability to grow, in March, Yuga Labs collaborated with the collective named ApeCoin DAO to drop ApeCoin ($APE) token.

ApeCoin acts as a digital currency in the same way as many other cryptocurrencies. People will be able to spend ApeCoins on upcoming products and services BAYC will offer, including the Play To Earn game launching in 2022. The hope is that ApeCoin may evolve beyond the BAYC ecosystem in the future.

There is a difference between Apecoin and cryptocurrencies such as Bitcoin, Ethereum, and Solana. Bitcoin, Ethereum, and Solana are native coins derived from their perspective blockchain. Apecoin does not have its blockchain and resides on the Ethereum mainnet; it's considered a token rather than a coin.

ApeCoins are not too dissimilar to Axie Infinity Shards (AXS), the native governance token of the Axie Infinity network. Axie Infinity players can buy, sell and trade using Axie Infinity Shards.


Distribution

A total of 1 billion ApeCoins were available; the allocation was as follows:

15% to the holders of Bored Ape Yacht Club and Bored Ape Mutant Club holders,

15% to Yuga Labs,

14% to the partners that helped launch the tokens,

8% to Yuga Labs founders,

1% to charitable events,

47% to ApeCoin DAO

ApeCoin DAO

ApeCoin DAO is part of the Ape Foundation, the governance behind the token. They have the power to manage the everyday running, project management, and bookkeeping of the token system. Holders of the ApeCoins and the DAO can dictate the ecosystem's future, thus making ApeCoin a decentralized system.

 ApeCoin DAO consists of leaders from the Social Media, gaming, and crypto space. These people include Alexis Ohanian (from Reddit), Amy Wu (from FTX), Dean Steinbeck (from Horizen Labs), Maaria Bajwa (from Sound Ventures), and Yat Siu (from Animoca Brands).

The BAYC project and Yuga Labs are separate entities from the ApeCoin DAO. If BAYC and Yuga Labs were closely connected, the project would come under the scrutiny of The Securities and Exchange Council of the United States. The Securities and Exchange Council is the government organization responsible for regulating Securities and protecting investors. To date, the organization has not focussed on NFT projects.

Launch 

On launch, the price of ApeCoins started at almost $40 per token. During the day, the token fell to around $6 as people who received free tokens sold their share. A few days into the launch, the price of the ApeCoin sits at around $11. The vast market cap size has meant that ApeCoin is in the top 50 of all cryptocurrencies.

The token was available on all major exchanges such as Coinbase, Binance, KuCoin, and FTX. It's unusual for new tokens to be widely known, but the popularity of the BAYC meant exchanges readily accepted ApeCoin onto their platform.

Original holders of BAYC NFTs were given 10,094 tokens for each NFT they held. This translates to nearly $400k at the price height and $60k near the bottom.

ApeCoins show that the Bored Ape Yacht Club project continually provides the holders with utilities. These utilities translate into social and financial gain. Unfortunately, the NFT space is riddled with scams and rug pulls. But Yuga Labs have set the blueprint for what makes a fantastic NFT project, an aspiration for other projects to follow.

No one can predict the price movement of digital currencies; there are no guarantees of price increases. The ecosystem created by Yuga Labs is continually expanding rapidly; it's probably a good bet to suggest ApeCoins are potentially a significant investment.

As always, do your own research before investing.

 

 

 

 

Mar 23, 2022
Dave